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China finds 5 bln tonnes of oil in 2008-2011 survey


09:00, December 26, 2012

BEIJING, Dec. 25 (Xinhua) -- China has made key progress in finding and protecting mining resources in recent years, according to a recent report on land administration and mining resources.

Some 5.01 billion tonnes of petroleum reserves, 2.6 trillion cubic meters of natural gas and 279.8 billion tonnes of coal were discovered between 2008 and 2011 in a large-scale geological survey, said Xu Shaoshi, minister of land and resources.

Xu revealed the data Tuesday while citing a State Council report submitted to the ongoing session of the top legislature for deliberation.

According to Xu, the country has formed a geological exploration system that values both public and commercial interests and encourages investment from multiple social sources.

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